In the deposition on November 16 made before the Commission d’Enquête by Monsieur Georges Clemenceau, the ex-Premier, after declaring that he himself had no personal knowledge of Rochette, described with characteristic brevity the conversation which he had with Monsieur Lépine just before Rochette’s arrest. “This has got to be finished off promptly,” I told him. “Do you believe Rochette to be an innocent man against whom calumniators are at work?” Monsieur Lépine replied: “Rochette is a scoundrel. He is a serious danger to the small investor, and if he is allowed to go on as he has begun we shall have a catastrophe one of these days.” “I told Monsieur Lépine to go and see the magistrates and make arrangements,” said Monsieur Clemenceau. “If I had to begin it all over again I would do again exactly what I did before, and I am quite certain that if I had allowed Rochette to get clear away with his millions out of private people’s pockets then, there would be a Commission of Inquiry at work now asking me to explain my complicity with the man.” Monsieur Lépine was called before the Commission of Inquiry again on November 18, and once more affirmed his conviction that Rochette’s arrest had been necessary. He gave a few significant details of Rochette’s methods. Rochette had bought properties for £8000 and floated them as a company for £32,000. He had bought the Aratra Mines for £9000, and floated them with a capital of £200,000. Patents for which Rochette had paid £1200, and which, Monsieur Lépine declared, were really not worth four shillings, were valued in the prospectus of the company, which asked for, and obtained, subscriptions, at £480,000. There were fictitious dividends declared, fraudulent balance sheets concocted, prices inflated to figures which had no real existence except by Rochette’s will. Rochette paid enormous sums for advertising. One newspaper alone cost him £14,000. His advertising adviser drew a salary of nearly £2000 a year. On one deal he spent £52,000, for advertisement alone, in twelve months, and he spent £24,000 on advertisement in the ten weeks before he was arrested. In three years he created fifteen companies, issued £4,800,000 worth of shares, and bought over £3,000,000 worth of his own shares at prices above the price of issue to inflate and to keep prices up. He had then about a million and a half sterling in cash to play with.